Probate Attorney Blog

When it comes to protecting your assets and setting up your family for a secure future, the decisions you make today can have long-lasting consequences. As an asset protection specialist, I’ve seen countless well-intentioned plans backfire simply because people followed outdated advice or misunderstood how estate planning works. Here are six things I would never do—and what I recommend instead to ensure your estate is protected and your loved ones are truly taken care of. 1. Leaving Assets Directly to…

  When planning your estate in Washington state, a credit shelter trust is a common and effective tool. But there’s a lesser-known “bolt-on” strategy that can further reduce estate taxes — and it’s surprisingly simple. Let’s break it down. What Is a Credit Shelter Trust? A credit shelter trust is a type of estate planning tool often used by married couples. When one spouse passes away, this trust is activated. Assets up to the federal estate tax exemption limit are…

When most people think about estate planning, they focus on creating a trust to protect their assets and ensure their wishes are followed after they’re gone. But as the recent situation with Jimmy Buffett’s estate shows, setting up a trust is only part of the story. The choice of trustees—especially co-trustees—can make or break how smoothly things go. The Jimmy Buffett Trust Dispute: A Cautionary Tale Jimmy Buffett, famously known for his hit song Margaritaville, had a trust in place…

Happy Sunday! Today is a great day because we have some NEW estate planning stuff to talk about! As you probably heard, Congress approved and President Trump signed into law the Big Beautiful Bill last week, and inside were two very important estate tax updates. First, the bill extended the current estate tax exemption ($15m per person, $30m if married) amount into the future. If you recall, without this new legislation, the tax rates would have reset to their previous…

Estate planning can be complex, especially when it comes to state-specific taxes like Washington’s estate tax. But here’s a lesser-known strategy that many people overlook—one that could significantly reduce your estate tax burden. Simply put: moving out of Washington state. Understanding Washington State Estate Tax Washington state imposes its own estate tax separate from the federal estate tax. This can catch many people off guard, especially if they have significant assets. The key point is that estate taxes are generally…

If you’re looking for an advanced yet straightforward way to reduce estate taxes, an Irrevocable Life Insurance Trust (ILIT) might be the solution. This strategy is especially popular among Washington residents who face higher state estate taxes, but it can be beneficial no matter where you live. What Is an Irrevocable Life Insurance Trust? An ILIT is a specific type of trust designed to hold a life insurance policy outside of your taxable estate. Because it is irrevocable, once you…

If you’ve inherited an IRA in the past few years, the rules for how you take money out of it have changed — and the IRS has recently clarified some key points. Understanding these updates can help you avoid costly mistakes and ensure you comply with distribution requirements. The General Rule for Inherited IRAs When you inherit an IRA, your withdrawal obligations depend on the age and Required Minimum Distributions (RMDs) status of the original account holder at the time…